$BTW fell below the 2.4 level.
When I first got into trading, I couldn't understand why everyone watched round-number levels. Later, I figured it out: traders tend to place orders and take-profit levels near round numbers. When there are enough orders, buying and selling naturally become more concentrated around those levels, and over time they become psychological levels.
Sizing your position by working backward from where you’ll place your stop-loss is much more reliable than just guessing.
#BTW
When I first got into trading, I couldn't understand why everyone watched round-number levels. Later, I figured it out: traders tend to place orders and take-profit levels near round numbers. When there are enough orders, buying and selling naturally become more concentrated around those levels, and over time they become psychological levels.
Sizing your position by working backward from where you’ll place your stop-loss is much more reliable than just guessing.
#BTW